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Severa Wins Top 100 Global Award at the Red Herring Global 2008

Severa, Finland'ss leader in professional services automation tools for SMEs, today announced that it is the proud recipient of the Red Herring Top 100 Global Award of 2008. The award is presented to the top one hundred international companies that are at the cutting edge of innovation and market disruption.

We are very pleased to be awarded the Top 100 Global Award from Red Herring. This award goes a long way to recognize our efforts in addressing the professional services automation market, said Ville Kuusela, COO of Severa, Over the past few years we have carefully implemented best practices to improve the business logic behind our system. This has yielded a comprehensive project management, sales and billing solution that is uniquely simple to use, yet extremely powerful.

Severa has been deployed in 500 customer installations worldwide and services over 300,000 end-clients, manages 100,000 projects and millions of work hours. Over 40,000 clients have received an invoice generated by the Severa hosted solution.

About Severa

Severa is a leading professional services automation tool designed to take the pain out of project management for small to medium sized professional services organizations. Severa is offered as SaaS that reduces implementation time and is fully customizable to fit into various verticals including design agencies, technical consulting services, law firms, engineering houses and architect firms. Severa'ss transparency into project data helps communicate business objectives, optimize resource allocation and reduces revenue leakage. For more information on Severa visit www.severa.com.

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